- World stocks struggle to build on highs as Europe weighs (Reuters)
- Oil hits eight-month high on disruptions, Chinese demand (Reuters)
- Hillary Clinton Set for Democratic Nomination After Primary Wins (WSJ)
- DNC avoids calling Clinton presumptive nominee (The Hill)
- Trump, Rattled by Critics, Treads Carefully in Victory Speech (BBG)
- Ruling against ex-AIG boss Greenberg raises stakes in Trump University case (Reuters)
- China May exports fall 4.1 percent, but imports beat expectations (Reuters)
- China Oil Imports Decline as Busy Port Curbs Crude Access (BBG)
- The Epicenter of America’s Oil Bust Is Drawing Buyers (WSJ)
- ECB Keeps Buying and Buying, Sending Assets to New Peak (BBG)
- Police Probe Finds Nothing to Suggest Aubrey McClendon Committed Suicide (WSJ)
- North Korea restarts plutonium production for nuclear bombs (Reuters)
- Yahoo Lines Up Bids for About 3,000 Patents (WSJ)
- We’ve Hit Peak Human and an Algorithm Wants Your Job. Now What (BBG)
- Dark Days at the Folly as Nomura Traders Join Europe’s Jobless (BBG)
- Russia deploys troops westward as standoff with NATO deepens (Reuters)
- Ousted CEO Laplanche studies LendingClub takeover (Reuters)
Overnight Media Digest
WSJ
– Hillary Clinton declared herself the Democratic Party nominee for U.S. president on Tuesday, embracing her role in history as the first woman to lead a major party in a race for the White House. (http://on.wsj.com/24y3Xun)
– A police investigation into the crash that killed Chesapeake Energy co-founder Aubrey McClendon has found nothing to suggest the shale pioneer committed suicide, and McClendon’s friends say they saw no signs of trouble before he died (http://on.wsj.com/24y4XhO)
– The U.S. and India agreed to move forward with construction of six nuclear reactors in India by U.S. company Westinghouse, the first such move since the countries signed a landmark civil nuclear deal in 2008. (http://on.wsj.com/24y4hsY)
– Amazon.com Inc plans to invest an additional $3 billion into India, which is emerging as a critical area of growth for the e-commerce giant. (http://on.wsj.com/24y47Sj)
– Yahoo Inc has hired boutique investment bank Black Stone IP LLC to sell about 3,000 of the internet company’s patents, according to people familiar with the matter. (http://on.wsj.com/24y4ufQ)
FT
Yildiz, the Turkish owner of Godiva chocolate and McVitie’s biscuits, has set up a London-based company that will boost its exposure to international markets and investors, helping the company compete in an increasingly competitive global food industry.
RIT Capital Partners Plc, a British investment trust chaired by financier Jacob Rothschild, said it did not intend to make an offer for Alliance Trust Plc despite “constructive discussions.”
Mike Ashley, the billionaire founder of British retailer Sports Direct, said on Tuesday the company effectively paid warehouse staff below the statutory minimum wage by requiring them to queue for security checks on their own time.
NYT
– On Tuesday, top computer scientists along with World Wide Web creator Tim Berners-Lee brainstormed at an event, called the Decentralized Web Summit, over new ways that web pages could be distributed broadly without the standard control of a web server computer, as well as ways of storing scientific data without having to pay storage fees to companies such as Amazon, Dropbox or Google. (http://nyti.ms/1WEdOzn)
– To many in the furniture industry, the 2014 merger of Herman Miller and Design Within Reach was a no-brainer. But a little-noticed lawsuit brought by two long-time shareholders in Delaware contends that the $154 million merger of the two never happened at all. (http://nyti.ms/1TYfX8A)
– A proposal by a senior House Republican Jeb Hensarling to dismantle portions of the 2010 Wall Street reforms known as the Dodd-Frank Act has rekindled a partisan debate over the state of banking regulation eight years after the financial crisis.(http://nyti.ms/1Uod8YH)
– The Senate on Tuesday gave final approval to an overhaul of the nation’s 40-year-old law governing the use of toxic chemicals in homes and businesses, sending the bill to President Obama for his expected signature. (http://nyti.ms/25LepnZ)
Canada
THE GLOBE AND MAIL
** General Motors of Canada Ltd will announce on Friday that it plans to hire as many as 1,000 additional engineers, giving a strong boost to its research and development activities in Canada. (bit.ly/1UEnaaK)
** The wildfires that tore into Fort McMurray have left a toxic legacy, with mounds of ash across the city containing harmful levels of contaminants, according to tests conducted over the past month. (bit.ly/1UeHIbr)
** Alberta has told prosecutors and police that no member of medical teams involved in an assisted death for mentally competent, severely ill adults will be prosecuted, the clearest attempt by any province to create certainty around the newly legalized practice. (bit.ly/1PhaPFg)
NATIONAL POST
** Calgary-based Suncor Energy Inc has signed a C$2.5 billion ($1.97 billion) bought deal for the sale of 71.5 million shares at C$35 a share, which represents a discount of C$1.50, or 4.1 percent, to Tuesday’s closing price of C$36.50. (bit.ly/1tgIeMk)
** Valeant Pharmaceuticals International Inc Chief Executive Officer Joseph Papa said he was convinced the embattled drugmaker remains misunderstood and should be headed for a turnaround, but investors are less certain. (bit.ly/1UEnztY)
Britain
The Times
– Piers Linney has sent a sharply worded letter to Vittorio Colao, chief executive of Vodafone Group Plc, to complain that the mobile network is responsible for the plight of his cloud computing company, Outsourcery, which has all but collapsed. (http://bit.ly/22NEXjk)
– Royal Dutch Shell Plc announced plans to leave up to 10 countries and cut billions of dollars in spending as it presses ahead with its 35 billion pounds ($50.88 billion)takeover of BG Group in the face of sharply lower oil prices. (http://bit.ly/22NEYnf)
The Guardian
– Mike Ashley’s Sports Direct Plc is facing a multimillion-pound bill in fines and back pay after Ashley admitted his company had broken the law by failing to pay staff the national minimum wage. (http://bit.ly/22NFgdW)
– Global growth will slow this year as oil exporters in the developing world struggle to cope with lower energy prices, the World Bank has said in its half-yearly economic health check. (http://bit.ly/22NFIJ8)
The Telegraph
– Terra Firma aired new claims that Michael Klein, then Citigroup Inc’s global head of investment banking and now leading his own boutique advisory firm, deceived private equity tycoon Guy Hands over the bank’s view of EMI’s business. (http://bit.ly/22NGd5W)
– The Turkish owners of United Biscuits have unveiled an ambitious plan to expand the business behind McVitie’s biscuits and Jaffa Cakes abroad and then return the company to the London Stock Exchange. (http://bit.ly/22NGhmm)
Sky News
– CBI is urging its members to enable millions of people to work part-time on June 23 to enable them to vote in the EU referendum. (http://bit.ly/1TY3hie)
– British exporters are at risk of paying up to 5.6 billion pounds in duties if the UK votes Out in the EU referendum, the head of the World Trade Organisation, Roberto Azevedo, said. (http://bit.ly/1TY4iqo)
The post Frontrunning: June 8 appeared first on crude-oil.top.